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<br />I <br /> <br />83- 001750 <br /> <br />INSTALLMENT SALE CONTRACT <br /> <br />.,." ApI",j <br />THIS AGREEMENT made this I.J{;:.day of /~, 19B3, by and <br />between ARDEN N. PETERSON and GRETCHEN K. PETERSON, husband.. and <br />wife, as joint tenants, Vendors, and the following-named <br />Purchasers, to-wit: ADELINE R. HOUDEK, an undivided one-half <br />interest; DONALD J. HOUDEK, an undivided one-fourth interest; <br />and LeROY HOUDEK and PENNY HOUDEK, husband and wife, as joint <br />tenants and not as tenants in common, an undivided one-fourth <br />interest, witnesseth: <br /> <br />The Vendors hereby agree to sell to the Purchasers, and <br />the Purchasers hereby agree to purchase from the Vendors, on <br />the terms hereinafter provided, the following-described real <br />estate situated in the County of Hall and State of Nebraska: <br /> <br />The Southeast Quarter (SE~) in Section <br />Fourteen (14), Township Twelve (12) North, <br />Range Eleven (11), West of the 6th P.M., <br />together with all appurtenances thereto <br />belonging and now thereon, and including <br />a Ford 300 Power Unit with Turbo, Valley <br />Pivot System and Injector, but not inclu- <br />ding the propane tank or the fuel therein. <br /> <br />Vendors warrant that the irrigation system will be in proper <br />operating condition at the time of closing of this sale. <br /> <br />The Purchasers ~erein are liable for the performance of this <br />Agreement in proportion to their interests as set forth in the <br />first paragraph above. However, should anyone of the aforesaid <br />Purchasers default in any of the terms of this Agreement on their <br />part to be performed, the Vendors may elect to treat such default <br />on the part of one of said Purchasers as a default on the part of <br />all of such Purchasers. <br /> <br />The Purchasers hereby agree to pay the Vendors for the real <br />estate the sum of Two Hundred Forty-Four Thousand Dollars <br />($244,000.00) payable as follows: Twenty Thousand Dollars <br />($20,000.00) cash in hand upon execution of this Agreement; <br />Forty-Five Thousand Dollars ($45,000.00) on or before closing <br />on April I, 19B3; and the balance of One Hundred Seventy-Nine <br />Thousand Dollars ($179,000.00) payable as follows: <br /> <br />(a) March 1, 1984, Five Thousand Dollars <br />($5,000.00) plus interest; <br /> <br />(b) March 1, 19B5, Five Thousand Dollars <br />($5,000.00) plus interest; <br /> <br /> <br />L <br /> <br />L <br /> <br /> <br /> <br />-1 <br />